Summary of the second quarter of 2024
First quarter link👉🏻2024 First quarter summary and thoughts👇
Second quarter monthly profit chart:
Small losses in April and June, small profits in May; overall trading results are quite challenging.
Second quarter profit curve:
Total loss of 0.51%, lagging behind the overall market (SPX +4.13%)
YTD yield curve:
Continues to lead the market YTD, with the magnitude narrowing.
TOP5 winners in the second quarter:
$ProShares Ultra Bloomberg Natural Gas (BOIL.US)$ （+4.2%After 2 months of operation, experienced a rising trend with core position around 3.X%, bringing 4.2% profit to the account, currently no positions held. Another small position, big contribution, but overall operation is very demanding for part-time traders.
$NVIDIA (NVDA.US)$ （+2.47%Using approximately 8% of the position, riding an upward trend for about 3 weeks, contributing 2.47% profit to the account. Currently no positions are held, will continue to be bullish on it in the future, patiently waiting for the next setup opportunity.
$Royal Caribbean (RCL.US)$ （+0.95%As of now, it has brought 0.95% profit to the account, with half of the position still riding.
$Netflix (NFLX.US)$ （+0.72%) Currently bringing 0.72% profit to the account, there is still approximately 80% of the original position being held.
$Palantir (PLTR.US)$ （+0.65%Currently bringing 0.65% profit to the account, the largest holding position is still in hold.
Top 5 losers in the second quarter:
$Rocket (RKT.US)$ （-0.8%Already stopped out, resulting in a 0.8% loss to the account; the problem with this trade was that it used a large position (14%) based solely on the advantage of the setup and timeframe when the trader's trade was not yet favorable, and the entry point was not the actual breakout point. Traders need to take responsibility for their actions and review this trade repeatedly to avoid making similar trading decisions in the future.
$LendingTree (TREE.US)$ （-0.45%) resulted in a loss of 0.45% to the account. Loose trailing stops often result in a low success rate, and it is important to find reasons not to participate in trades during times of strong emotional heat.
$Warrior Met Coal (HCC.US)$ （-0.44%) resulted in a loss of 0.44% to the account. The entire trade was conducted according to the process and it was a normal stop loss exit.
$Oscar Health (OSCR.US)$ （-0.4%) resulted in a loss of 0.4% to the account. The trade involved slightly excessive chasing and a normal stop loss exit. The reaction of a single candlestick in one day cannot determine future trends.
$Pubmatic (PUBM.US)$ （-0.4%Bring a loss of 0.4% to the account, a normal stop loss within the trading process.
In addition, there are many stop losses ranging from 0.2% to 0.4%.
Summary: In this quarter, a total of 77 trades were made, slightly lower than the 82 trades in the first quarter; the trading success rate is 27%, much lower than the 44% in the first quarter.
There is still some excessive trading. Although there has been a significant improvement in the use of stop-losses, setting choices, and entry timing within the trading process compared to the first quarter, there is still room for improvement, especially in terms of setting choices and entry timing.
Although the trading results in the second quarter are far from the first quarter, there has been a significant improvement in the overall trading process, which has not yet been reflected in the short term results. I am not too worried about this. These good processes will gradually show in future trading results over time.
I will not change my style just because the trading results this quarter have underperformed the market, because from start to finish I clearly know what I want. This goal has not changed in the past, is not changing now, and will not change in the future; continue to optimize processes and details, correct the shortcomings in past trades, and strive forward 🚴🏻.
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